ISTP, 8025 Lamon Ave. Skokie, Il 60077

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ISTP Ownership Changes

These recent sales highlight property types for which real estate investors have clamored during the COVID-19 pandemic: high-quality life sciences research buildings and office buildings with big, single tenants with good credit and long-term leases. The former has benefited from a rush of venture capital pouring into biotech and pharmaceutical research throughout the public health crisis, while the latter has drawn buyers looking for safe places to invest amid economic uncertainty

A venture of Hallandale Beach, Fla.-based TopMed Realty bought the 233,588 -square-foot office building at 4901 Searle Parkway. The building, which is almost fully leased to NorthShore University HealthSystem on a long-term deal, was purchased from a venture of Skokie-based American Landmark Properties

The sale comes a month after American Landmark sold the life sciences lab portion (8025 and 8045 Lamon Ave.), the majority of the leased 22.6-acre ISTP campus to Chicago-based investor Singerman Real Estate. The portfolio is comprised of a mix of highly technical wet lab and GMP space and is home to established global life sciences brands as well as prestigious university affiliated venture backed startups.

Noted Sam DiFrancesca and Lucas Borges of the JLL Capital Markets team…. “We were encouraged by the depth of capital with an interest in Greater Chicago and are excited to see such an established national life sciences investor as Singerman committing to the market,” “The level of lender interest in this portfolio is further testament to Chicago’s significant growth potential within the life sciences space.” Max Zwolan and Scott Brandwein of JLL also supported the transaction and will continue to handle the leasing for the buyers.
For the entire article, click here.

November 29, 2021 Comments Off on ISTP Ownership Changes Blog, News

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NU Record Research Funding

Northwestern Research Funding- Record $893M.  Northwestern University’s research enterprise once again demonstrated strong performance, with annual sponsored funds reaching a new record high of $893.4 million for the fiscal year that closed Aug. 31. This represents an increase of 1% from last year’s total and continues a decade-long trend that has positioned Northwestern among the nation’s most prestigious research institutions. Since 2011, the University’s research funding has increased more than 74% as Northwestern approaches $1 billion in sponsored support, a feat achieved by only its top academic peers.

“The remarkable depth and breadth of Northwestern research continues to make a huge positive impact, transforming entire fields and strengthening society,” Milan Mrksich, vice president for research. said. “As we continue to go from strength to strength — including important investments in our entrepreneurial and innovation ecosystem to increase translation — we will enhance our already superb research enterprise to keep elevating Northwestern’s reputation as a premier destination for the best scholars, scientists and students in the world.”

“Our research portfolio now includes a higher percentage of larger, complex awards, reflecting the collaborative approach to research that Northwestern fosters,” said Shandra White, executive director of Sponsored Research. “Having diverse projects within Northwestern’s research landscape is vital, along with the robust infrastructure to support the complexity of those high-impact investigations.”

For more about NU, click here.

September 27, 2021 Comments Off on NU Record Research Funding Blog, News

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CMO Leadership Awards

Vetter was granted the 2021 CMO Leadership Awards in five core categories – quality, expertise, compatibility, capabilities, and service. Winning five core categories reaffirms Vetter as a trusted solution provider, particularly during globally challenging times.

“Yet again, Vetter is honored to be a winner of the CMO Leadership Awards as determined by our most important judges – our global customers,” said Vetter Managing Director Peter Soelkner. “This recognition is of particular importance given the challenging and turbulent times we are all experiencing with the global Covid-19 pandemic.” Carsten Press, Vetter’s Senior Vice President Key Account Management/Supply Chain Management/Marketing added, “Winning this award in five key categories is a direct reflection of what we strive to project to our customers. It further demonstrates our stable performance for them and especially their patients.”

Unlike other awards where an application process takes place, winners of the CMO Leadership Awards are chosen according to a customer ranking system. The basis for this is their hands-on experience with the service providers they have actually worked with. Using this method of validation means results are not able to be influenced in any manner. As such, the awards honor true customer performance and signify that winning companies have distinguished themselves through a leading level of support for the needs of their pharma and biotech customers.

To read the entire release, click here

August 3, 2021 Comments Off on CMO Leadership Awards Blog, News

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Demand for Lab Space

A surge in life sciences funding has spiked the demand for lab space. While the pandemic and the race for a vaccine certainly accelerated investor interest, it was already ignited by ongoing breakthroughs in immuno-oncology, neonatology and other technological advances. What’s more, investment in the sector has translated into commercial real estate leasing in a clear and direct way.

This has impacted leasing. In the major U.S. life sciences markets, total vacancy has decreased by 250 basis points between 2015 and 2020, from 9.8 percent to 7.3 percent. The pandemic is a major driver of the increased government funding. In the U.S., Project Warp Speed sent billions toward COVID-19 research and biomanufacturing with the intent of bringing a vaccine to market.

These transactions bring with them a plethora of life sciences jobs, which can also spur development of housing, retail and other urban amenities that serve the people who live and work in the knowledge center.

“Every time there is a funding round, it’s only a matter of months before these companies are looking for new space,” says Travis McCready, Executive Director, US Life Sciences Markets, JLL. “When companies get VC money, they need lab space in order to deliver as soon as humanly possible. Life sciences have an outsized impact on development in the surrounding area when compared to other sectors,” McCready says. “In a sense, increased investment in life sciences is the tide that lifts all ships” To learn more from JLL, click here.

August 3, 2021 Comments Off on Demand for Lab Space Blog

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8-Story Hotel In Downtown Skokie

The 142-room Homewood Suites by Hilton is planned for the northeast corner of Oakton Street and Niles Avenue. The deal calls for the developer to present proof that a hotel at least as prestigious as a Homewood Suites plans to operate at the site for at least 15 years.
Downtown Skokie HotelDowntown Skokie Hotel
ISTP Master PlanDowntown Skokie Master Plan

The hotel is set to include 30,000 square feet of retail space on its ground floor and rooftop and about 10,000 square feet of banquet and event space.

Corporation Counsel Michael Lorge said the project will be a positive addition to the under-construction 8000 North development about 1,000 feet to the west on Oakton Avenue.  “The addition of a hotel to the downtown area is an important and a commanding addition to the economic development already going on in downtown Skokie, and it provides great resources for the surrounding corridor,” Lorge said ahead of the project’s approval at the Dec. 7 village board meeting. “It is also an important addition to the Illinois Science and Technology Park, which needs hotel accommodations for its tenants.”

July 29, 2021 Comments Off on 8-Story Hotel In Downtown Skokie Blog, News

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Chicago Area Life Science Cluster

A life sciences cluster has also grown in recent years in and around Chicago, where three federal laboratories, several biopharma giants, and an emerging community of startups are buttressed by a strong base of academic research institutions—including Northwestern University, the University of Chicago, and the University of Illinois.

The bioscience industry’s economic footprint reaches into so many local communities across the country. From capital investments to research & development, this report shows the impact of the biosciences across the nation’s innovation ecosystem.

In Illinois, life sciences employers grew their employment base since 2016, increasing by 3.2 percent reaching nearly 88,000 direct jobs. Research also ranked in the top tier of all states in life sciences related academic R&D activities. Illinois research institutions spent nearly $1.6 billion in 2018 on R&D.

“The bioscience industry is critically important to Illinois and we are proud to work closely with partners like iBIO to help ensure the future of the industry and its role as an economic driver in the region,” said Pete Pellerito, BIO Senior Policy Adviser for Federal and State Economic Development and Technology Transfer Initiatives. To access the entire article, click here.

March 19, 2021 Comments Off on Chicago Area Life Science Cluster Blog

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Vetter Celebrates 10 Years @ISTP

At the time of its creation, the Skokie facility employed approximately 15 German expats to support the setting up of the core processes at the site. Today, the facility has a working staff of around 100 employees, almost all of whom are from the US. In addition to its growing employee population, the facility has also doubled in size from its original 24,000 sq. ft. to 50,000 sq. ft. today. To access the press release, click here.

“Our Skokie facility is a clear demonstration of the successful strategy we put into place in the second half of the 2000s,” said Vetter Managing Director Thomas Otto “That strategy was to be closer to the injectable development projects taking place in the US. The facility is also further proof of our family related business philosophy. By bringing expats to the facility first, and then gradually transitioning primarily to local employees, we created strong intercultural teams and secured knowledge transfer from our German specialists to our US experts.”

Vetter Development Service Chicago has the people, processes, and technology to serve pharma and biotech companies of every size with customizable solutions for drug products from early stages to Phase II, with transfer to the company’s commercial manufacturing capabilities in Europe. As a strategic partner with a global network of excellence, Vetter provides proven drug delivery systems specifically designed for the clinical needs and timelines of complex compounds. For more on Vetter’s Chicago site, please see: https://www.vetter-pharma.com/en/clinical-manufacturing-us

April 13, 2020 Comments Off on Vetter Celebrates 10 Years @ISTP Blog, News

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New Downtown Skokie TIF

As noted in the Winter 2020 edition of Skokie Biz, the newly formed Oakton – Niles Tax Increment Finance (TIF) District was approved by the Skokie Village Board and has the unanimous support from all taxing jurisdictions.  The 6.25 acre TIF District was formed to spur transformational development of Downtown Skokie and the region around ISTP.

Construction on multiple projects is expected to begin in spring 2020, including a new combined public/private parking garage, a new 143-room Homewood Suites by Hilton Hotel and Conference Center and continued improvement to 8030 Lamon Ave at ISTP to accommodate new/or growing life science companies and research facilities.    Additionally, construction is underway at The BLVD, located at 8025 Skokie Blvd.  The development will feature 40 two bedroom luxury rental units and 2,600 square feet of ground floor commercial/retail space.

The Winter 2020 edition of Skokie Biz also noted additional new developments in Skokie such as the opening of an Amazon distribution center, new restaurant openings and other activities.  Click here to read the entire edition of SKOKIEBIZ

January 24, 2020 Comments Off on New Downtown Skokie TIF Blog, News

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CycloPure – $1 million SBIR Grant

CycloPure, Inc., a leading innovator in water purification technologies and the developer of the DEXSORB™ line of adsorbents, announced that the National Institute of Environmental Health Sciences has awarded the company a Small Business Innovation Research (SBIR) Phase II grant in the amount of $1,000,000.

CycloPure will use the Phase II grant to continue development of its DEXSORB+ adsorbent for removal of PFAS from drinking water.

Cyclopure pictureCyclopure picture

“We’re thrilled to continue working with the NIEHS Superfund Research Program,” said CycloPure Chief Executive Frank Cassou. “NIEHS has been a great partner; they care deeply about the issue of PFAS in domestic drinking water supplies. Funds from this award come at a great time as we push to expand field activities with our environmental and municipal partners. We do our best work removing nanoscale contaminants. The PFAS Superfund Program is in our sweet spot.”

Click for entire release.

November 20, 2019 Comments Off on CycloPure – $1 million SBIR Grant Blog, News

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Durbin & Pritzker Visit ISTP

At a press conference, Governor Pritzker recognized the contributions of the ISTP tenant community, American Landmark Properties and Village of Skokie as well as local members of the State Legislature. Additionally, the Governor highlighted Rebuild Illinois — a program that helps out every part of our state’s economy, and is a sustainable program that’s going to be paying dividends for years to come.

Pritzker announced at ISTP “Illinois now has a new message for the world. Illinois is back and we are open for business. Together we can build a state that truly serves as a beacon for families and businesses and good paying jobs.”

Senator Durbin met with representatives from ISTP and Park tenants, Vetter, Exicure, NuMat Technologies and the Village of Skokie

Durbin noted “I enjoyed getting the chance to meet with business leaders at the Illinois Science + Technology Park and learn more about the innovative work they are doing. I’ve made it a priority in Congress to support and increase federal funding for scientific research, which will help support ISTP’s innovators and inventors.”

After providing Durbin a look into the wet lab space at Exicure, CEO David Giljohann said “A great visit with a champion of science!”

November 18, 2019 Comments Off on Durbin & Pritzker Visit ISTP Blog, Events

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